SAIPAN — The Department of Finance announced the implementation of its Fiscal Year-End Closing Policy and Procedures for all government organizations, a process designed to ensure every financial transaction for the year is accurately recorded, reconciled and reported in full compliance with applicable accounting standards and regulations.
“This process fosters transparency and accountability, enabling stakeholders to make informed decisions based on the CNMI Government’s financial health,” said Secretary of Finance Tracy B. Norita. “By conducting a thorough and diligent yearend closing, the CNMI Government can also identify and correct any discrepancies, thereby enhancing the reliability and accuracy of its financial data.”
Department and agency heads are responsible for ensuring their departments complete all required financial tasks in a timely manner under DOF policies, including providing transactions, invoices, payroll data and other necessary documentation before the year-end deadline, and verifying the accuracy and completeness of the data their teams submit.
The department flagged blackout periods ahead: transaction processing will be temporarily restricted during the final stages of the year-end closing. Dates are not yet finalized, with details to be communicated by official government memorandum to all department heads outlining the timeline and specific restrictions.
The procedure officially took effect July 7, 2025 and is available on the Finance website. For more information, contact the department at (670) 664-1100 or info@dof.gov.mp.
